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A bride took ...

Question

A bride took a loan of ₹ 3 lakhs to meet the expenses of her marriage at an installment of ₹ 10,000 per month for 3 years.Find the extra money she needs to pay the bank.

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Solution

Loan amount = ₹ 3,00,000
Amount she needs to return to bank = ₹ 10,000 x 12 x 3
= ₹ 3,60,000
Extra money she needs to pay = ₹ 3,60,000 - ₹ 3,00,000
= ₹ 60,000

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